Kyl Warns Obama Administration Not to Fire Bank CEOs

(Update1)
BLOOMBERG, 5/8/2009 by James Rowley - A leading Senate Republican warned the Obama administration against removing chief executive officers at banks that received U.S. assistance, saying “the great fear” would be government management of companies. ∴ “If you think that Washington can run car companies and banks and so on, well, then you’ve not been paying attention to how we’ve been doing back here,” Senator Jon Kyl said of the Treasury’s threat of management changes at banks getting “exceptional” aid. Last month, the administration forced out General Motors Corp. CEO Rick Wagoner as a condition for more U.S. aid. Read more at Bloomberg...